It has been another volatile day in Chinese markets and contagion fears are spreading across into the Europe where stocks are trading lower and the US, which is looking for a lower open, especially in the light of Greece’s possible exit from the Eurozone. Chinese regulators have upped the ante again, but seemingly to no avail as stocks in China continue to fall. The People’s Bank of China is now providing ‘access to liquidity’ for the China Securities Finance Corporation (CSF) to prevent ‘financial risk’. Translated, the PBOC is giving the CSF money to buy up Chinese stocks. This is in addition to the credit that the CSF has made available to brokerages to buy shares. FOMC minutes will be the main data event on Wednesday. The last statement erred on the dovish side with no inferences that September will see the first rate hike. There is a possibility that the minutes will counteract that dovishness with more specific talk about whether the Fed will reinvest expiring bonds in its balance sheet, or reference to the pickup in inflation. More likely though, given the weakness in economic data leading up to the last meeting, there may be discussions of the impact of international developments (ie Greece and China) and the stronger dollar on the US economy. Alcoa kicks off earnings season today; the aluminium-producer is expected to earn $0.23 per share on revenue of $5.79bn. While the company has managed to disassociate its earnings with metal prices to some degree, the recent commodities rout may still negatively impact forward guidance. Futures suggest the: S&P 500 will open 22 points lower at 2,059 with the Dow Jones expected to open 175 points lower at 17,601 and the Nasdaq 100 44 points lower at 4,385. For further comment from Jasper Lawler, please call 0203 003 8907 Email: marketcomment@cmcmarkets.com Follow CMC Markets on Twitter: @cmcmarkets Follow Jasper Lawler (Market Analyst) on Twitter: @jlawler_cmc CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.